Frank Furino, a former clerk at the New York Stock Exchange, has been sentenced to a year and a day in prison after pleading guilty to one count of securities fraud for allegedly tipping off a trader about large client orders in exchange for cash bribes.

Furino was charged with breaching the "squawk box" broadcast system that US brokers use to execute confidential client stock orders.

Prosecutors told the federal court that large orders can move a stock price over short periods and floor brokers who trade ahead of clients this way are breaking the law.

Amore is also co-operating in civil proceedings against former brokers and traders from big Wall Street brokerage firms who made combined profited around $300,000 (€242,000) in commissions based on tips from squawk box announcements, according to the Securities Exchange Commission.